Zai Lab Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	717.16	449.67	790.15	1,008	964.1	442.12
Short-Term Investments	-	330	16.3	-	445	744.68
Cash & Short-Term Investments	717.16	779.67	806.45	1,008	1,409	1,187
Cash Growth	16.41%	-3.32%	-20.03%	-28.43%	18.73%	330.10%
Receivables	105.01	89.41	65.33	48.57	54.81	5.17
Inventory	67.14	39.88	44.83	31.62	18.95	13.14
Restricted Cash	100	100	-	-	-	-
Other Current Assets	43.65	41.53	23	35.67	18.02	10.94
Total Current Assets	1,033	1,050	939.61	1,124	1,501	1,216
Property, Plant & Equipment	64.62	69.46	68.58	77.38	57.29	46.86
Long-Term Investments	-	3.12	9.22	6.43	15.61	1.28
Other Intangible Assets	58.13	58.93	16.46	8.4	9.66	9.44
Other Long-Term Assets	3.24	3.77	2.43	3.6	26.52	24.02
Total Assets	1,159	1,186	1,036	1,220	1,610	1,298
Accounts Payable	99.71	100.91	112.99	65.97	126.16	62.64
Accrued Expenses	43.55	46.77	58.16	44.21	45.01	23.89
Short-Term Debt	203.03	131.71	-	-	-	-
Current Portion of Leases	5.5	8.05	7.1	7.05	5.93	5.21
Current Income Taxes Payable	4.73	5.15	16.99	13.28	8.82	0.95
Other Current Liabilities	3.26	6.8	7.83	9.32	6.99	5.36
Total Current Liabilities	359.77	299.39	203.07	139.84	192.9	98.04
Long-Term Leases	10.84	13.71	8.05	13.34	9.61	13.39
Long-Term Unearned Revenue	28.06	31.43	28.74	21.36	27.49	16.86
Other Long-Term Liabilities	0.33	0.33	0.33	-	-	-
Total Liabilities	399	344.86	240.18	174.55	230	128.29
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	3,328	3,264	2,975	2,893	2,826	1,897
Retained Earnings	-2,578	-2,453	-2,196	-1,861	-1,418	-713.6
Treasury Stock	-29.05	-20.84	-20.84	-11.86	-4.28	-
Comprehensive Income & Other	39.65	50.52	37.63	25.69	-23.65	-14.52
Total Common Equity	759.95	840.9	796.12	1,046	1,380	1,169
Shareholders' Equity	759.95	840.9	796.12	1,046	1,380	1,169
Total Liabilities & Equity	1,159	1,186	1,036	1,220	1,610	1,298
Total Debt	219.36	153.47	15.15	20.39	15.54	18.6
Net Cash (Debt)	497.79	626.2	791.3	988.08	1,394	1,168
Net Cash Growth	1.51%	-20.87%	-19.91%	-29.10%	19.29%	359.64%
Net Cash Per Share	4.63	6.33	8.19	10.31	14.99	15.04
Filing Date Shares Outstanding	110.59	107.58	98.72	96.02	96.41	88.59
Total Common Shares Outstanding	110.59	107.77	97.22	96.02	95.5	87.81
Working Capital	673.18	751.1	736.54	984.49	1,308	1,118
Book Value Per Share	6.87	7.80	8.19	10.89	14.45	13.32
Tangible Book Value	701.82	781.96	779.66	1,037	1,370	1,160
Tangible Book Value Per Share	6.35	7.26	8.02	10.80	14.35	13.21
Machinery	49.71	48.65	48.23	44.38	37.76	27.35
Construction In Progress	0.75	25.13	24.27	24.25	11.33	2.42
Leasehold Improvements	14.67	11.31	11.37	11.3	10.43	9.64

Source: S&P Global Market Intelligence. Standard template. Financial Sources.